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Archive for April, 2016

Coming Next Month! The FREE “Million Dollar” Trade Show and Landlording Conference

Posted on 01. Apr, 2016 by .

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The Big Show  You’ll want to remember to mark your calendars for the big “Million Dollar Trade Show and Landlording Conference” next month.  The big show will be held on Thursday, May 19th at the Long Beach Convention Center in Hall C, 300 East Ocean!

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Another Possible Victory for Landlords! – By Justin Wilson

Posted on 01. Apr, 2016 by .

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Minnesota Landlords and Tenants Unite to Fight Unconstitutional Search of Homes Golden Valley landlords and tenants unite to challenge city’s rental inspection law. Minnesotans have a new reason to remember to empty their dishwashers and keep their bathrooms clean. That’s because the city of Golden Valley is asking the Minnesota Court of Appeals to grant […]

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Los Angeles City Rent Stabilization – Reminders and Updates – by Patricia A. Harris

Posted on 01. Apr, 2016 by .

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Hopefully, if you own apartments in the City of Los Angeles and are under the L.A. Rent Stabilization Ordinance, you have already paid your building’s registration fees of $24.51 per unit which was due by February 29, 2016.  Serving a timely notice, you may collect one half of those fees from your tenants. 

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Legal Q & A Tenants Operating Day Cares – by Franco Simone, Esq.

Posted on 01. Apr, 2016 by .

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Q:  My tenants informed me that they plan on running a small day care business out of their apartment. However, my rental agreement strictly prohibits operating a business out of the apartment and the area in which the apartment building is situated is not zoned for commercial businesses. Can I prohibit my tenants from starting […]

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Stocks and House Prices Go Up When the Fed Starts Raising Rates – By Dr. Steve Sjuggerud

Posted on 01. Apr, 2016 by .

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You won’t believe me … but it’s true.  Stock prices and house prices actually do extremely well when the Fed starts raising interest rates.  I know, I know.  I get it.  It shouldn’t happen.  Rising interest rates should be a “negative” for stocks, as corporate borrowing costs go up and profit margins go down.  But […]

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Location, Location, Location …or Timing, Timing, Timing? By Albert Banks, Real Estate Broker

Posted on 01. Apr, 2016 by .

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We’ve all heard variations of the famous quote: “There are three things that matter in property: location, location, location.” “There are three things to remember when valuing a property: 1-Location, 2-Location, and 3-Location.” “The top three keys to success in real estate are location, location, location.” 

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Something to Think About #43- Uncle Sally’s Nephew, Part 6 – By Klarise Yahya, Commercial Loan Broker , BRE: 00957107, MLO: 249261

Posted on 01. Apr, 2016 by .

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Deflation Executive Summary: For purposes of this article, a declining interest rate environment (the “back half” of an interest rate cycle) is the rising tide that benefits investors as a group. This is the period that investors live for. Net operating income goes up every year, seemingly with very little customer resistance. Payments on variable […]

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Top 10 Things to Do After a Major Earthquake Strikes – By Terrence Jones

Posted on 01. Apr, 2016 by .

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When the Great San Francisco Earthquake of 1906 struck, my great-grandfather was 14 years old living with his family at Pine and Van Ness.  The property had suffered little more apparent damage than a downed chimney.  So his father, seeing many other downed brick chimneys in the neighborhood, hastened him to the brick mason for […]

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Opportunities and Hazards in Estate Planning for Apartment Owners – By Attorney Kenneth Ziskin

Posted on 01. Apr, 2016 by .

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Estate planning for apartment owners (or the owners of any income property) involves both opportunities and hazards for the owners.  Too often, however, no one takes the time to explain the opportunities and hazards to owners, and they wind up with plans that do not fully meet their goals.

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Legal Q & A – By Richard Beckman, Attorney

Posted on 01. Apr, 2016 by .

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Question 1: One of our rental units comes equipped with a dishwasher. The dishwasher is not working properly and the owner does not want to pay to have it replaced or repaired. The tenant states that as she rented it with the dishwasher working, the Owner must replace or repair it no matter the cost. […]

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Letters to the Editor…

Posted on 01. Apr, 2016 by .

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Dear Dan: When you hire a lawyer and you ask for an idea of what it will cost, BEWARE.  Any price quote you get in an email, as I did for an eviction, means nothing, because if you want to complain about the final fees, the State Bar will ONLY go by the contract you […]

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MRLANDLORD.COM TIPS ON MANAGEMENT

Posted on 01. Apr, 2016 by .

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Tips on Verifying An Applicant’s Information  Here’s one recent story shared on the MrLandlord.com Q&A. “I called a previous landlord to verify reference on an applicant. She gave all good reviews, said the resident paid on time, was up to date on her payments and took good care of her place. I informed the applicant […]

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Tips on How to Make Your Income Property Crime-Free – By Grayce Long, Attorney

Posted on 01. Apr, 2016 by .

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Property crime can be as conspicuous as graffiti or vandalism or it can manifest as behavior that is more difficult to ascertain such as drug trafficking or terrorist activities.  Owners and managers can educate themselves to prevent or reduce crime.   Everyone wins in this scenario because a property that is crime free has a higher […]

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39 Money-Saving “Short Cuts” for Rental Housing Providers – by Bob Ruda

Posted on 01. Apr, 2016 by .

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1.      To spruce up old, dirty and tired wall switches and plugs without replacing them, use spray paint made for plastic.  Two quick coats and they will now match your new switch covers and look like you replaced them.

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Why Buy Earthquake Insurance? – By Cliff Hockley

Posted on 01. Apr, 2016 by .

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Many of our clients have asked us over the years if they should purchase earthquake insurance. This is a difficult question to answer specifically because every property is constructed differently (i.e. wood, masonry, concrete, metal) and is located on different soil (i.e. clay, rock, sand). The height of the building also makes a difference. Imagine […]

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Legal Q & A – By Dennis Block, Attorney

Posted on 01. Apr, 2016 by .

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Question One: I own a fourplex. One of my male tenants, who has been in the building over five years, is complaining about a new female tenant.  In an email to me, he states that her voice is too loud and that her dog is barking too much.  He even told her to “Shut up” […]

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Options to Extend a Lease: Elements and Pitfalls – By Dale Alberstone, Esq.

Posted on 01. Apr, 2016 by .

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Hello everybody.  Let’s start with a multiple choice question about options: Assume that the landlord gives his tenant an option to extend the term of their lease by five years provided that the tenant exercises the option in writing on or before Sunday, January 1, 2017.

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Top 10 Housing Markets for 2016 – By Zillow

Posted on 01. Apr, 2016 by .

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Earlier this year, Zillow® announced its predictions for the ten hottest housing markets in 2016. Topping the list is Denver, followed by Seattle and Dallas-Fort Worth, all of which are major tech towns – ideal for job growth. Other places that made the list are Utah markets Ogden and Salt Lake City, along with Omaha, […]

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How to Spot Unauthorized Occupants – By Chris E. McGoey, CPP, CSP, CAM

Posted on 01. Apr, 2016 by .

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Rental housing crime studies have repeatedly shown that moderate to high-crime problems can usually be traced back to a small percentage of residents. Those causing the crime problems are often the acquaintances, ex-spouses, or boyfriends of a legal resident who decided to move in without your permission.

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4 Ways to Increase Tenant Retention Without Spending a Dime – By David Lowrey

Posted on 01. Apr, 2016 by .

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Tenant retention provides a huge advantage to any property management company who devotes the time and energy. You save your property owner’s a ton of money by eliminating expensive costs getting the unit rent ready again. Painting, cleaning, yard work, and minor carpentry repairs can easily run $1,000 to $2,000 every time a tenant moves […]

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Warning to Landlords: IRS Phone Scams Continue – By Peter Muffoletto, CPA

Posted on 01. Apr, 2016 by .

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Aggressive and threatening phone calls by criminals impersonating IRS agents are once again increasing with the start of the 2016 filing season. The calls threaten police arrest, deportation, license revocation, bank account seizures, and a number of other threats.

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Five Characteristics of Successful Real Estate Investors – From 1st Choice Lending

Posted on 01. Apr, 2016 by .

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One of the greatest joys for me is to watch others succeed as real estate investors.  I am always amazed how some investors jump in and can create profits from almost any deal, while others seem to struggle with each step they take.

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Three Things to do When A Tenant Moves In – By Robert L. Cain

Posted on 01. Apr, 2016 by .

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1.  Walk through the unit and show them where everything is. If you think this step isn’t important, just wait until you have a water leak, your tenant calls you and hasn’t turned off the water because he doesn’t know where the shutoff is. There’s more to it than that, though.

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Five BIG Mistakes Landlords Make – Just Say No! – By Nick Sidoti, R.A.M. – “Dr. Cash Flow”

Posted on 01. Apr, 2016 by .

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Question:  You seem to be a person who has learned the same way I have, through the school of hard knocks.  One of the things I like about you is that you are willing to admit that you have made mistakes and you are willing to help others avoid learning the hard way.  If you […]

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